Our New Construction Buyer Representation Program gives home buyers real guidance on upcoming new condo & home opportunities & how to purchase a unit strategically as a sound investment.
DC new condos typically price at a premium over resale listings. Pricing on brand-new 1BR condominiums in Pre-Sales typically start in the high $300,000's. To learn more about buying condos or homes in the $150,000 to $300,000 price range, visit our First Time Home Buyer pages or attend our popular ULC First Time Buyer Workshops.
The Local New Construction Market
Here's some facts on the current new condominium market and how it can be frightening to new buyer without professional guidance:
- Multiple new condominium projects are starting to appear and begin marketing and construction.
- The hot market and demand for inventory means that these projects will be sold as Pre-Sales, before the buildings are physically constructed.
- Interested condo buyers will typically be selecting their units off of floorplans and schematics; the floor your unit is located on has a major effect on the price will pay as well as its future value and appeal.
- There is both an art and a science to strategic new condo purchasing; you do not want to over-pay early nor do you want to risk missing out on the unit you really want.
- There are typically no discounts, incentives or special deals available from developers for buyers who do not use the services of an agent. You can miss opportunities for incentives like closing costs credits, transit packages, etc.
About New Construction Pre-Sales
A large number of area new condo and new home projects start selling during a preview or pre-sales time period. It's your chance to reserve and purchase a unit before the grand opening.
- Pre-Sales requires a Deposit with most developers. There is flexibility here if you are represented by an Agent who is experienced at managing the interaction with the developer.
- There can be a long waiting period between Pre-Sales, actual building construction and the time your unit settles and is delivered to you. You must understand your rights during this time frame and how to trigger a cancellation of your purchase.
Our New Construction Buyer Representation program is for area home buyers who do not currently have Buyer Broker Representation Agreements with other real estate agents.